What current management practices and principles are used in the current global business environment?

Global Business

It goes without saying that management of international company differs from management of national one , firstly because global business is more affected by political and economic factors such as customs duties , taxes on corporate income , offset trade and local content . Thus managing international company requires not only management skills , but also cultural knowledge and cross-cultural communication skills Understanding how to communicate cross-culturally will assist business developing in promoting creating smoothly working project teams responding to customers , clients , and markets living and working in a culturally diverse world . In [banner_entry_middle]

a modern swiftly changing world people and cultures are circulating and interacting as at a really dizzying speed Those people who know how to use language and how to communicate cross-culturally have a crucial advantage over other businesses

Global managers should contribute to company ‘s success by understanding the main levels of globalization as well as by admitting the importance of international agreements . Global business has led to creation of new concepts and practices and all leaders of global companies have to understand them . Global company belongs to the final stage of globalization meaning that such business is provided with strategic corporate units in other countries that interacts with both headquarters and each other . Therefore , the objective of a manger is to create global structure aimed at tying people and to provide help in coordinating scattered offices . The next moment to admit is the global businesses are trying to establish global human resource practices with a minimum of country-specific adaptations . Managers of global companies provide leadership and continuity in the various divisions Apparently , managers would benefit from leading global businesses as it gives further opportunitites in career development and promotions Leading international company ensures the highest levels of leadership skills

References

Cherrington , D Middleton , L (1995 , June . An Introduction to Global Business Issues . HR Magazine , retrieved January 28 , 2007 , from HYPERLINK “http /www .findarticles .com /p /articles /mi_m3495 /is_n6_v40 /ai_ /p g_3 http /www .findarticles .com /p /articles /mi_m3495 /is_n6_v40 /ai_ /pg _3

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